During a speech at the New York Times DealBook summit in New York last Wednesday, Jay Monahan said he would meet Yasir Al-Rumayyan in the coming days. The American stressed that they were in negotiations with several parties, specifying that the deadline for their discussions with the PIF was a firm objective.
Next week he will be with Yasir to continue to advance the negotiations. Jay Monahan also discussed ongoing plans for a combined deal that will include not only PIF, but also another investor with significant experience in business, sports and marketing.
Although the American circuit rejected the offer from Endeavor, the American entertainment group that owns WWE and UFC, it could count on the support of Fenway Sports Group and Henry Kravis, co-founder of the KKR investment fund & Co.
Pga and LIV
“When the deal is finalized, the PGA Tour will be in a position to offer athletes the opportunity to own their sport. It will not only be PIF, but also another investor with significant experience in business, sports and marketing.
This will help us take the PGA Tour to the next level, compete with other sports and be more competitive,” added Jay Monahan. In short, the PGA Tour is in the middle of negotiations with experienced investors to join the PIF and take the sport to the next level.
The June 6 joint statement from Monahan and Al-Rumayyan endorsed a framework agreement resulting from negotiations led by a small PGA Tour group led by Monahan himself. However, the tour president admits he went through a difficult period mentally, leading him to seek help.
Finding it difficult to sleep, unable to break away from work and suffering from a poor diet, Monahan was only able to bring himself to tell his wife about it on June 11, after a long walk. He says he was hurt by the perception that he had shirked his responsibilities.
However, thanks to appropriate treatment, he was able to regain a mentally positive attitude and focus on practices such as writing a personal journal, doing gymnastics, healthy eating and breathing. Now he's focused on focusing on the things he can control.
Monahan now says he is convinced he is the best leader the PGA Tour can have. The father of two daughters admitted that the implementation of the framework agreement could have been optimized, but he maintains that it was the right decision.
“It is important to keep a long-term vision, to believe deeply in the decision made and to be ready to face criticism which, often, is abundant and will persist. »